Deputy Prime Minister Trinh Dinh Dung has agreed to appoint Mr. Truong Quang Nghia, PCC member and Minister of Transport, as President of the Central Road Maintenance Fund to replace former Minister of Transport Dinh La Thang.

Mr. Truong Quang Nghia. (Photo: baogiaothong.vn)

The Central Road Maintenance Fund was established under Government decree 18/2012/ND-CP dated March 13th, 2012. The fund is owned by the State and has legal status, seal and account which are opened at the State Treasury.

Fund established at the central level is called Central Fund and Fund established at the provincial level is called Local Fund.

The Fund Management Council is responsible for proposing adjustment of regulations related to collection source of the fund and amendment of regulations related to the operation of the fund; building and ratifying financial plans, collection and spending of the fund; checking and assessing the implementation of the financial plan; drawing the balance-sheet for collection and spending of the fund as prescribed by the law; managing finances and assets assigned as regulated; and following other tasks assigned by the authority./.

( Compiled by VNF )